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International financial institutions support extension of capital amnesty in Russia

February 09, 15:01 UTC+3

Putin said that the amnesty would provide "new opportunities for those who want to work honestly, in a civilized way"

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MOSCOW, February 9. /TASS/. Extension of the capital amnesty will add stability to the Russian business and this step is also supported by international financial institutions, President Vladimir Putin said on Friday.

The State Duma approved in third reading the package of laws providing for extension of the capital amnesty until February 28, 2019, the President said. "I will not make a secret and many are aware that we consulted on this matter with international financial institutions also. They accept it understandingly and support us in this decision," Putin noted.

"I expect that this step towards the Russian business will provide extra stability to it, provide new opportunities for those who want to work honestly, in a civilized way and openly, and create enterprises and new jobs," Putin added.

Some other decisions aimed at support and development of the Russian business were also made at the turn of the last year, the head of state said. "In particular, the law on regulation of syndicated loan agreement has already come into force. Rules were changed for taxation of income of controlled foreign companies. Parameters of domestic bonds of foreign loans nominated in foreign currency are under review," Putin said.

Russian citizens will have an opportunity within the amnesty framework to file on a voluntary basis returns on their property and assets, including the ones held by nominees, along with overseas accounts and controlled foreign companies in exchange for exemption from tax, administrative and criminal liability for tax and customs duties payment evasion and failure to comply with laws on currency regulation and currency control. The amnesty covers all revenues, operations and transactions related to overseas assets and accounts.

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